India's reform measures "very significant" -Geithner

Tuesday, 9 Oct 2012 | 4:14 AM ET

SHARES

NEW DELHI, Oct 9 (Reuters) - India's recent reform measures are "very significant" and will fuel private investment in the economy, U.S. Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday.

India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to foreign supermarkets, to revive economic growth, which has slowed to a near three-year low.

"The reforms outlined by the government of India offer a very promising path to improving growth outcomes for the Indian economy," Geithner said at a joint news conference with Indian Finance Minister P. Chidambaram.

(Reporting by Manoj Kumar and Rajesh Kumar Singh; Editing by John Chalmers)